Amid disappointing sales, DOLCE GABBANA seek experienced CEO
With an average sales drop of 21% in the past years and a sales drop of 14% for the first three months of 2010, DOLCE GABBANA’s financiers have been urging the two designers, also owners, to seek to create a new CEO position and recruit an experienced luxury professional. Luxury industry specialists seem to unanimously agree that spectacular fashion shows and campaigns (i.e. latest media campaign features Madonna) are no longer sufficient for DOLCE GABBANA to improve its ailing performance.
After taking over the D&G line from ITTIERRE Group which had been producing it in licensing and after buying out several shoe manufacturers three years ago, DOLCE GABBANA’s financial performance has been decreasing constantly.
The international crisis has only been adding to the difficulties, even forcing the Italian luxury brand to lower its price points as well as accept to provide its wholesale buyers with more favourable payment conditions. The current CEO, Ms Cristina Ruella, will no longer hold the CEO position as she is likely to remain in charge only of finance and administration.